BillionaireXchange.com launched as an online auction and trade site for luxury items

US-based BillionaireXchange International has launched BillionaireXchange.com, an online auction and trade site that will allow members to buy, sell, bid-on, auction and exchange luxury items all around the world.

According to the company, prospective members would be required to have a minimum of $2 million in verifiable net worth in order to join BillionaireXchange.com. The company says that it has set high financial qualifications to make sure bidding for the high-priced items would be taken seriously.

US-based BillionaireXchange International has launched BillionaireXchange.com, an online auction and trade site that will allow members to buy, sell, bid-on, auction and exchange luxury items all around the world.

According to the company, prospective members would be required to have a minimum of $2 million in verifiable net worth in order to join BillionaireXchange.com. The company says that it has set high financial qualifications to make sure bidding for the high-priced items would be taken seriously.

BillionaireXchange.com claims to have already played a role in the sale or exchange of more than $180 million in assets during a 10-month test phase. The company plans to charge sellers a fee of five per cent of the sales. [Source: Reuters]